The Property Podcast TPP002: 7 Newbie Mistakes that can Shatter your Investment Dreams
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Mar 28, 2013 Newbie investors can sidestep disaster by avoiding common pitfalls. Recent house price trends signal a thriving market—stay informed! Establishing clear investment goals is crucial for maintaining focus and direction. Avoid mimicking TV show strategies; choose methods that play to your strengths. Learn the art of negotiation to buy below market value and enhance equity. Balance thorough research with decisive action to avoid getting stuck in analysis paralysis. A handy tool called PropertyB can streamline your property research!
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Start With A Clear End Goal
- Set a clear long-term financial goal before you start investing in property.
- Use that goal to focus choices and measure progress over time.
Turn Goals Into A Living Plan
- Create a written plan that maps steps from your current position to your goal.
- Revisit and adjust the plan every six months to stay on track.
Don't Model Strategy On TV
- Avoid copying TV shows as your investment strategy; they simplify complex processes.
- Choose approaches that match your skills and capacity instead.
